49 pages. "What's New: Extended rollover period for qualified plan loan offsets in 2018 or later. For distributions made in tax years beginning after December 31, 2017, you have until the due date (including extensions) for your tax return for the tax year in which the offset occurs to roll over a qualified plan loan offset amount."
Internal Revenue Service [IRS]

"In consultation with the [DOL] and the [PBGC], Treasury has determined that the Fund is eligible to reduce benefits under MPRA and that your application satisfies the requirements of subparagraphs (C), (D), (E), and (F) of section 432(e)(9) of the Internal Revenue Code, as added by MPRA.... [No] reduction of benefits can take effect before a vote of the participants and beneficiaries of the Fund with respect to the proposed reduction."
U.S. Department of the Treasury

Feb. 11, 2019. "How to avoid the mistake: [1] Review the plan document language ... [2] When you amend your plan document, make certain the language for hardship distributions is in the most recent document. [3] Establish hardship distribution procedures ... [4] Only allow hardship distributions that meet the plan document and IRC Section 401(k) requirements. [5] Look for signs that the hardship distribution program is being abused or badly managed."
Internal Revenue Service [IRS]

10 pages. "[This] chart includes the key annual events which must occur within a specific deadline. The chart is intended to serve as a tool that can be used by employers to monitor compliance over the plan and calendar year."
VOYA Financial

"[This] chart provides an explanation of key plan events and the deadline for each for Section 401(a) and 401(k) defined contribution plans with a plan year ending December 31, 2019. Off-calendar year plans should adjust the deadlines accordingly based on the time frames described in the chart."
VOYA Financial

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"The Mediation Program remains voluntary and available only for certain cases and eligible plan sponsors. Cases are generally ineligible for the program if: [1] the plan sponsor has a minimal ability to pay; [2] there is a pending court proceeding; or [3] there is limited time to act and the plan sponsor has declined to sign a standstill or tolling agreement."
Proskauer's ERISA Practice Center

"Former Schwab employee Michael Dorman can move forward with a challenge to how the company replaced an affiliated stable value fund in its 401(k) plan with other funds. But Dorman's other allegations, which challenged the fees and performance of the plan's Schwab-affiliated funds and certain loan transactions, were dismissed[.]" [Dorman v. Charles Schwab Corp., No. 17-285 (N.D. Cal. Feb. 8, 2019)]
Bloomberg BNA

"The financial decisions people make can reaffirm their perceived reality.... Living below one's means requires a discipline many simply don't possess.... Rather than bailing out their children, perhaps parents should be leading by example."
Fiduciary News

"You will likely forfeit some company matching contributions ... Job changes can force defaults of 401k loans ... The opportunity costs can be substantial ... Interest on a 401k loan is not tax-deductible ... Paying interest to yourself is not a good idea ... Easy access can lead to bad loans ... Double taxes are paid on interest payments."
Lawton Retirement Plan Consultants

"This study looks at: the impact of unexpected changes in health, employment, family, and finances on early retirement; and the prevalence of these shocks. The findings suggest that: [1] Health shocks play the largest role, mainly because they are widespread. [2] Job loss without finding a new job, while not as prevalent, is also important. [3] Family transitions have a modest impact, while financial shocks appear to have little effect."
Center for Retirement Research at Boston College

24 pages. "Most of the plans studied received insufficient contributions to reduce their unfunded liabilities ... The percentage of plans whose contributions were insufficient to reduce unfunded liabilities as a dollar amount ... but were sufficient to reduce unfunded liabilities as a percent of payroll ... increased from 36% in fiscal year 2003 to 77% in 2017 ... [Of] plans whose contributions did not reduce unfunded liabilities as a dollar amount, ... more than half also fell short of the plans' Actuarially Determined Contributions (ADC) or other target contributions"
Society of Actuaries

"The reimagined plan ... would blend the stable income for life of old-fashioned defined-benefit pension plans with the favorable tax treatment of the contemporary 401(k). But unlike those plans, this one would follow participants wherever they work and be universally available, while accommodating the needs of different kinds of savers and protecting participants from their own worst impulses."
Jason Zweig, in The Wall Street Journal; subscription may be required

"This Article analyzes the history, design, and normative impact of the ... CEO pay ratio disclosure rule, which went into effect in 2018.... [The authors] propose that the SEC should seek to improve the rule's informational integrity by mandating a narrative disclosure approach that provides information about median worker pay and the resulting pay ratio with more context, nuance, and explanation."
Steven A. Bank and George S. Georgiev, via SSRN

Participant elected in 2015 to contribute Roth 401(k). From 2014 through June 2018, the participant contributions were inadvertently set up as pre-tax in all respects (W-2 reporting, deposits at recordkeeper, withholding calcs, etc). What to do? Note: The participant has since rolled his entire balance out to an IRA, but if it helps we can start by assuming the money is still in the plan.
BenefitsLink Message Boards

Current plan document allows for in-service distribution for participants who are over 59-1/2 and employed for 5 years. The withdrawal is restricted to once a year. The client wants to amend the plan to allow multiple (periodic) payments of in-service distribution for participants who are over 70-1/2 and leave the restriction for once a year for participant who is 59-1/2. is this allowed?
BenefitsLink Message Boards

We have a 401(k)(12) safe harbor 401k plan with the basic match that we want to restate to become a QACA safe harbor match 401(k) plan under 401(k)(13). Can the QACA match have a 2 year vesting schedule not just for new hires but also for existing participants with a traditional safe harbor match account that is 100% vested? Our document sources these accounts separately -- it has a separate definition of QACA match in the document.
BenefitsLink Message Boards

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